Celsius Resources Limited — Capital/Financing Update 2007

Sep 25, 2007

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26 September 2007

Company Announcements Office Australian Stock Exchange Limited 20 Bond Street Sydney NSW 2000 By e-lodgement

View Closes out its Hedge Book

View Resources has closed out all remaining hedging for the Bronzewing Gold Project with immediate effect. The Company is confident that by taking this position and becoming totally unhedged and fully exposed to the rising gold price represents the best case scenario in the current bull gold market.

Following on from the close out earlier this week of half its flat forward commitments (87,500 ounces) and in full consultation with its Bankers, View has elected to sell its remaining unexpired put options with the proceeds more than covering the cancellation cost for the remaining 87,500 ounces of flat forwards. The additional revenue will be used to partially off-set the costs of closing out the first transaction.

As announced on the 24[th] September 2007 View is well advanced in its discussions to secure a level of short term funding required to cover for contingencies as Bronzewing moves towards full ramp up position over the next quarter and a cash-flow positive position by the end of 2007.

The Company remains confident of hitting its targets for the December quarter, as previously advised and consistent with the budgeted annualised production rate of 120,000 ounces per annum.

For further information contact:

Tim Gooch, Managing Director (08) 9226 4611 www.viewresources.com.au

Willie Rowe – Gryphon Management Australia 0417 931 254 www.gryphon.net.au

Yours faithfully

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Tim Gooch Managing Director - View Resources Ltd

Telephone: (08) 9226 4611 Facsimile: (08) 9226 4655

Level 12, London House 216 St Georges Tce, Perth WA 6000 ABN 95 009 162 949

Postal Address Po Box 7656 Cloisters Square WA 6850